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Market-Characteristics.pptx-week-6-7

The document outlines the distinctions between strategic and marketing planning, emphasizing the importance of strategic planning in achieving long-term organizational goals. It highlights the benefits of strategic planning, such as improved decision-making, better resource management, and enhanced market responsiveness. Additionally, it discusses the differences between long-term and short-term goals, and includes an activity for creating a jingle related to SMART objectives.

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6 views16 pages

Market-Characteristics.pptx-week-6-7

The document outlines the distinctions between strategic and marketing planning, emphasizing the importance of strategic planning in achieving long-term organizational goals. It highlights the benefits of strategic planning, such as improved decision-making, better resource management, and enhanced market responsiveness. Additionally, it discusses the differences between long-term and short-term goals, and includes an activity for creating a jingle related to SMART objectives.

Uploaded by

vhianex07
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Market Characteristics,

Consumer Behavior, and


Market Segmentation
"Informing Strategic and Marketing
Planning"
Week 6-7
Learning Competencies
1. Distinguish between strategic and marketing planning.
2. Analyze macro- and micro-environmental factors.
3. Identify market characteristics influencing consumer behavior.
4. Explain market segmentation bases.
Strategic vs. Marketing Planning
Strategic Planning
Strategic planning is the art of creating specific
business strategies, implementing them, and evaluating
the results of executing the plan, in regard to a
company's overall long-term goals or desires.
What is the meaning of strategic
plan?
A strategic plan is a document used to communicate with the
organization the organizations goals, the actions needed to achieve
those goals and all of the other critical elements developed during the
planning exercise.
What is the significance of strategic
planning?
Future Focus: Strategic planning allows organizations to anticipate and
respond to changes in the business environment. It also helps to
forecast potential opportunities and threats, which is crucial for
surviving in today's dynamic business world.
The Benefits of Strategic Planning
• Improved Decision Making: Strategic planning helps organizations make decisions
that align withtheir mission, vision, and strategic objectives. It ensures that all
actions and initiatives are driving the organization towards its defined goals.
• Better Resource Management: Through strategic planning, organizations can better
allocate their resources and prioritize their efforts, focusing on the activities that
will have the most significant impact on achieving their strategic goals.
• Increased Operational Efficiency: Strategic planning improves operational efficiency
by providing a roadmap for all activities. It reduces ambiguity, promotes alignment,
and ensures that all efforts are coordinated and pointed in the same direction.
• Enhanced Market Responsiveness: Strategic planning allows organizations to be
proactive rather than reactive. They can anticipate changes in the market, adapt
quickly, and seize opportunities as they arise.
Objectives: Mission, vision, goals
• Mission is a general statement of how you will achieve your vision.
Strategies are a series of ways of using the mission to achieve the
vision. Goals are statements of what needs to be accomplished to
implement the strategy. Objectives are specific actions and timelines
for achieving the goal.
• Action plans are specific actions that need to be taken for reaching
the milestones within the timeline of the objectives.
Long term and short tem planning
Long-term vs. short-term goals
• Long-term goals help to chart a path toward your organization’s future
vision. They’re broad and ambitious by nature and include projects such
as expanding into new markets, establishing partnerships, and investing
in product development. They’re also set over a longer time horizon
than short-term goals and often face more risk and uncertainty.

• Short-term goals, on the other hand, are about continued progress.


When leveraged correctly, they establish momentum for the
organization through quick wins and act as stepping stones from short-
term success to achieving long-term goals.
GOAL
• A goal is an achievable outcome that is generally broad and longer
term while an objective is shorter term and defines measurable
actions to achieve an overall goal.
Activity 2
Group activity: 9 members
Create a song/jingle for SMART.
Criteria for Rating Percentage

Relevance to the objective 30%


Melody (originality, creativity, form and
25%
style, structure and rhythm)

Lyrics (originality, consistency and


organization, choice of words, cultural 25%
substance)

Recall value and popular appeal 20%


Marketing Planning (Assignment)
• Define marketing planning: specific, tactical objectives.
• Compare and contrast strategic and marketing planning.

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